Politics of Financial Reporting and the Consequences for the Public Sector
(2007) Politics of Financial Reporting and the Consequences for the Public Sector. ABACUS 43(4):pp. 474-487.
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Abstract
This article examines the political processes surrounding public sector accounting standard setting, in particular, the Australian decision to adopt sector-neutral International Financial Reporting Standards (IFRS). It contends that the history of private and public sector involvement in the accounting standard setting process to date, and recourse to regulatory theory, assist in understanding these contemporary developments. The article reveals that private sector interests have dominated accounting standard setters at all important stages of standard setting in Australia. It concludes by arguing that, given this continued neglect by standard setters, if public sector financial reporting standards are to remain relevant to the public sector, then it may be necessary for public sector regulators to set their own standards.
| Item Type: | Journal Article |
|---|---|
| Status: | Published |
| Keywords: | Financial reporting ; IFRS ; Regulation ; Sector-neutral ; Standard setting ; Theory |
| Subjects: | 360000 Policy and Political Science > 360200 Policy and Administration > 360201 Public Policy 350000 Commerce, Management, Tourism and Services > 350100 Accounting, Auditing and Accountability > 350107 Other Accounting |
| ID Code: | 11111 |
| Deposited By: | Crowe, Katie |
| Deposited On: | 07 December 2007 |
| Alternative Locations: | http://dx.doi.org/10.1111/j.1467-6281.2007.00243.x, http://www.econ.usyd.edu.au/ |
| Copyright Owner: | Copyright 2007 University of Sydney |